Minoan signs GSA Agmt with Sunwing Travel Group

6 May 2011

Minoan Group Plc

("Minoan") 

Minoan signs GSA Agreement with Sunwing Travel Group

Minoan Group Plc is pleased to announce that it has signed a General Sales Agency Agreement ("GSA") agreement with Sunwing Travel Group Inc. ("Sunwing") for King World Travel ("KWT"), Minoan's recently acquired subsidiary, to become the General Sales Agent in the UK for Sunwing's UK-Canada flying programme.

The agreement permits KWT to sell seats on Sunwing's transatlantic flying programme, selling both directly to the consumer market and also through other retail agencies. Such flights may be sold as "flight only" or packaged with other components such as car rentals, hotel stays and tours. Minoan agrees however not to market such seats in Canada, on Canadian websites or via Canadian based retailers. The agreement is for an initial period of three years.

Sunwing provides various tourism services through its subsidiaries Sunwing Airlines and Sunwing Vacations, including all-inclusive packages, flights, hotels and car rentals.

Christopher Egleton, Minoan Chairman, commented:

"I am delighted to announce our third travel and leisure related deal in such quick succession. This expansion of KWT's reach and focus further demonstrates our commitment to this part of the business - with a view to creating a valuable stand alone operation. There is huge scope for growth as we build on a strong brand and open up a new revenue stream. This is another positive step forward in Minoan's overall travel strategy - with the emphasis firmly on creating a profitable, distribution led travel business - and we are delighted to have teamed up with Sunwing.

I am pleased that we have established this latest agreement with such a prestigious partner and look forward to further updating the market with developments as and when appropriate."

For further information visit www.minoangroup.com or contact:

Minoan Group Plc

Christopher Egleton christopher.egleton@minoangroup.com

Bill Cole 020 8253 4305

Seymour Pierce Limited 020 7107 8000

Nicola Marrin/David Foreman (Corporate Finance)

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